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Kolkata: Income tax department raids company, exposes Rs 365 crore black money

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During this period, the raiding team of Income Tax Department officials has also recovered unaccounted cash of Rs 3.02 crore and jewelery worth Rs 72 lakh.

new Delhi. The Income Tax Department has revealed undisclosed income of Rs 365 crore during the raids on Real Estate and Stock Broking Group based in Kolkata (Kolkata). The Central Board of Direct Taxes (CBDT) gave this information on Friday. This action of the Income Tax Department was based on the department’s database, analysis of financial accounts of these companies and market intelligence. The raids were carried out on January 5 on the companies.

The CBDT release said here, “So far, the total income of Rs 365 crore has been known to be hidden. Companies have so far accepted undisclosed income of Rs 111 crore.

During this period, the raiding team of Income Tax Department officials has also recovered unaccounted cash of Rs 3.02 crore and jewelery worth Rs 72 lakh.

It has been said in the release that the sale of the houses has also been revealed without revenue. During the investigation, it has also been found that the people of the company group have also been using mask companies to move their own unaccounted amount.



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